Palvella Therapeutics’ (PVLA) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Palvella Therapeutics (NASDAQ:PVLA) in a report released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a $39.00 target price on the stock.

Other analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of Palvella Therapeutics in a research report on Tuesday, February 11th. Cantor Fitzgerald started coverage on Palvella Therapeutics in a research report on Wednesday, December 18th. They set an “overweight” rating for the company. Finally, TD Cowen started coverage on Palvella Therapeutics in a research report on Wednesday, February 5th. They set a “buy” rating and a $44.00 target price for the company.

Palvella Therapeutics Price Performance

NASDAQ PVLA opened at $19.37 on Wednesday. The stock has a 50-day moving average of $14.76. Palvella Therapeutics has a 52 week low of $6.20 and a 52 week high of $22.32. The company has a market capitalization of $217.35 million, a P/E ratio of -1.60 and a beta of 0.68.

Insider Buying and Selling

In other news, Director George M. Jenkins purchased 4,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $12.93 per share, for a total transaction of $51,720.00. Following the acquisition, the director now directly owns 180,671 shares of the company’s stock, valued at $2,336,076.03. This represents a 2.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palvella Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at approximately $125,000. Toronto Dominion Bank purchased a new position in Palvella Therapeutics during the 4th quarter valued at approximately $159,000. Geode Capital Management LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at approximately $171,000. Cresset Asset Management LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at approximately $251,000. Finally, Renaissance Technologies LLC purchased a new position in Palvella Therapeutics during the 4th quarter valued at approximately $256,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.

Palvella Therapeutics Company Profile

Palvella Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases. Palvella Therapeutics Inc, formerly known as Pieris Pharmaceuticals Inc, is based in WAYNE, Pa.